OREANDA-NEWS. March 27, 2007 ALROSA Co. Ltd. is currently involved in three projects in Angola: the Catoca and LUO- Camatchia-Camagico joint ventures and the construction of a hydroelectric power station on the Chicapa river, reported the press-centre of  ALROSA. ALROSA and the Ministry of Energy and Waters of the Republic of Angola, in the framework of ALROSA President Sergey Vybornov’s participation in the working visit of the RF Prime Minister Mikhail Fradkov to southern Africa, signed a contract for the construction of HydroChicapa-2 and internal power supply lines for the provincial capital Saurimo on March 16, 2007.


In June 2007 ALROSA plans to commission, in accordance with the design project, all the four turbines at the Chicapa-1 Hydro under construction now.  ALROSA and the Angolan state diamond miner Endiama signed a contract providing for a complex of exploratory activities on 3000 square metres in the Cacolo municipality. ALROSA intends to invest about USD 14 million in this project.  At present ALROSA is also preparing documentation for a contract for petroleum prospecting, exploration and development in on- and offshore areas that it intends to sign with Sonangol, Angola’s state-owned petroleum company.